Curbing Piracy: India's Rs 22,400 Crore Entertainment Industry Challenge

The Indian entertainment industry lost Rs 22,400 crore to piracy in 2023, as shared by 'The Rob Report' by EY and IAMAI. High piracy rates stem from costly subscriptions and limited content availability. Collaborative efforts and leveraging technology are crucial to mitigating piracy risks.

In 2023, the Indian entertainment industry faced a massive Rs 22,400 crore loss due to pervasive piracy, according to a recent report. The study, released by EY in collaboration with the Internet and Mobile Association of India (IAMAI), highlights significant piracy, particularly in the streaming sector, accounting for 63% of pirated content consumption.

The report underscores the challenges faced by the industry with Rs 13,700 crore of losses from movie theatre piracy and Rs 8,700 crore from OTT platforms. The government also faced an estimated Rs 4,300 crore in potential GST losses. It calls for stronger regulations and collaborative sector-wide efforts to fight piracy.

Rohit Jain from IAMAI stressed the urgency of united action, involving government bodies and industry players. As consumers cite high costs as a piracy driver, content providers must rethink pricing models. Meanwhile, Mukul Shrivastava of EY emphasizes leveraging technology to protect intellectual property rights and ensure creators benefit from their work.

(With inputs from agencies.)